Turkey no future loans from IMF

Ankara will no longer borrow money from the International Monetary Fund (IMF), according to Turkish President Recep Tayyip Erdogan. “Turkey’s economic indicators are at a very good level compared to other countries,” Erdogan told his AK Party on Sunday, adding that the IMF chapter in the country has been closed for good.

 

Turkey remains a country with low debt levels. Turkey’s 28 percent public debt and 16 percent household debt-to-GDP ratios are both roughly half the developing country average, Treasury and Finance Minister Berat Albayrak said on Sunday.

Emerging Market currencies on the back foot: –

Argentina got a $50bn loan from the IMFTurkey hiking their interest rates for the umpteenth time -Brazil trying to defend the Real after the country had a very damaging truck driver strike -SA seeing no growth and high inflation

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